Sensex
TATAPOWER super bullMy earlier message about this scrip is void. It was only till the expiry which was today.
This sector has seen too much of negativity in the short run.
Technically, the price has broken the downward pattern.
It has to test the high to contemplate a run downwards.
86 is the short term target and 91 for medium term **if the short term goes well**.
Sensex clear signal to downside by Diverging RSISensex clear signal to downside by Diverging RSI and BB resistance. Go short on any rallies until BB is breached on closing basis
Long SENSEXI am expecting a quick move past 30,000 when the market opens on Monday. The correction on Friday was too rapid and I am expecting a pullback which should break through the 30k level. And if this does hold true we are in for a massive up move on the SENSEX as I believe "animal spirits" will take over past the psychologically critical 30k level.
To give you some context, the last time the SENSEX touched (briefly broke) the 30k level was in March 2015. The current bull run definitely has more steam (based on economic reforms that are in progress/or have been announced), but we will have to see how it survives the earnings season coming up.
The best way to play this would be to go long OTM calls.
Reliance 50% Retracement PossibleThere is a Possibility of 50 % Retracement in Reliance to around 1150 levels, It will also act as a structure test, Some Really Good Selling Patterns are also coming up in daily charts...
TCS Short for 2000...Trend Correction is Getting Over, IT has started to look weak, TCS is at Upper Trend Line and at Major Resistance, Volumes are lower op Trending Up, Target Can be of Around 2000, 1700 with short from around 2400.
Banknifty to 19kFII Sentiment changing, correlation between DOW and Indian markets coming towards positive after hovering over -80%+. Support line is a 2 year strong support line, domestic news catalyst is in. Stop at 17.55 TP at 19k.
Anything can happen trade on your own discretion.
NiftyWe expect a gap down on Nifty by Monday towards 8765 then a pull back towards 8860 then a sharp sell off towards 8560, below 8550 we are expecting nifty to drag towards 7900.
NIFTYviewJust a view on NIFTY as we already had the trades on in BANKNIFTY and this could as well provide some cues.NIFTY likely to test the 8800 zones. If it manages to hold fort expect markets to remain steady. If cracks below it we could have a test of 8720 levels. Institutional data still suggests Long positions. Hence any downside trades better be hedged. For the contrarian lovers look for low risk pullback trades.
Nifty Forming Gravestone Doji - Indicating Change In TrendOn weekly Chart, it is been observed that there is a formation of Gravestone Doji candlestick that indicates bearishness. It forms in uptrend market to suggest change in trend. As showed in the chart, Nifty is been trending up forming new upside breakouts and waves for a while, it is been now observed with a Gravestone Doji, that indicates change in trend or "Party over for bulls" for a short time.
Gravestone Doji :
1. Formed when opening and closing price are almost equal.
2. Long upper shadow suggests that buying pressure was countered by high selling pressure, rejecting higher prices
3. This candles indicates turning point of a trend, known as bearish reversal candlestick
In all, bulls pressure to take prices up has been completely rejected by sellers waited at resistance, indicating change in trend.
22-Aug NIFTY Testing Key levelsNIFTY seems to have formed a descending trend line on top and is now testing key levels on the charts. A break below this can lead to a test of 8550 and 8500 spot levels on the downside. Upside strong swing hurdle remains at 8680-8700 zones.
Nifty Breaks Down From Ascending Triangle (Sell)The price action breaks out from the ascending triangle and it shall continue its downward rally to 8570 and 8535 levels.
17-Aug: Low risk short idea on BankNifty17-Aug: Another attempt at the top. A low risk short and reversal opportunity with stops above 19160 levels.
Potential target is the rising channel placed near 18850. A break of that can lead to further downside with test of lower channels
10-Aug: Failed attempt to Take out topBanknifty failed to take out the top and now has formed multiple tops with lower highs. the levels of 18650 can be the acid test and a break of that can lead to test of lower levels
Nifty Up move Fibonacci analysis.
Last time we analysed SENSEX down move and the retracement in to it. This time we are analyzing the current up move.
Observations are on chart. According to current market move we can test 8260 or 9208 soon. One thing we need to keep in mind that this is daily chart so occurrence of level testing will take some time. :-)
02-Aug :BankNifty UpdatesBankNifty is staring at a double top breakdown and is trading below significant long term moving averages on hourly charts. Option 1 is to initiate a short here with stops above 19000 levels or to wait for a breakdown of 18500. Downside targets can be 18150 levels
HCL TECH TRIPLE BOTTOMHcl Tech Seems Bottomed out. 3 White (Japan) Soldiers in candle pattern (Marked Rectangle). One can buy at channel breakout above 780+ if Volume supports. RSI now at 54.
20Jul- Swing Trading Short- BankNiftyBankNifty seems to have finally broken the steep trendline ( terrific trade that was) This calls for a potential test of the retracements or upto 18500 zones or so with the top today as a low risk stoploss
18-Jul- NIFTY Updates & plan for Week AheadNIFTY has continued the strong upmove and continued to sustain above key levels. On an immediate basis NIFTY has a key level at 8560 spot.Until it sustains above it the upmove looks intact for 8670 spot. On the downside any move below 8560 can give a good contrarian short opportunity to test 8450 odd levels. Lot of key events which can make the markets volatile.
- earnings specially Banks & Consumption sector
- Monsoon session
-GST
NIFTY Futures-Week Ahead 11-JulyNIFTY Futures managed a sharp pull back after touching the support zones of 8340 odd levels. On the upside targets now remain at 8520 odd levels. Today's Gap low can be an immediate support below it this can be considered for gap filling. Swing upsides now emerge at 8650 odd levels with base continuing to be at 8350
NIFTY Futures Week Ahead 04-JulyMarket Bytes 04-Jul-2016
Nifty futures: NIFTY futures continues the upmove with another gap up. For the upmove to sustain its important that NIFTY future sustains above 8340-50 zones. Upside swing targets now emerge at 8500-20 levels. In case it breakes below 8340 its back to a range bound. Interesting price action for last week. It was a week where almost all asset classes showed an upmove ( Equities, Oil, Bonds, metals)
#nifty #nseindia #sensex #stock
